BlueCrest Capital Management Ltd Acquires New Holdings in ERock, Inc. $EROC

Key Points

• BlueCrest Capital Management acquired 200,000 ERock shares worth approximately $2.9 million, representing a 0.42% stake. Several other institutional investors also initiated positions during the second quarter.
• ERock shares recently fell 7.8% and opened at $12.67, while the company reported a quarterly loss of $0.06 per share—better than estimates—and revenue of $39.88 million, ahead of forecasts.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $22.50, despite one sell rating.

BlueCrest Capital Management Ltd bought a new position in shares of ERock, Inc. (NYSE:EROC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 200,000 shares of the company's stock, valued at approximately $2,900,000. BlueCrest Capital Management Ltd owned 0.42% of ERock at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in shares of ERock during the second quarter valued at $515,000. Readystate Asset Management LP acquired a new position in shares of ERock during the second quarter worth $725,000. Value Aligned Research Advisors LLC bought a new stake in shares of ERock in the second quarter worth $19,516,000. Wellington Management Group LLP acquired a new stake in ERock in the second quarter valued at $7,228,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in ERock in the second quarter valued at $710,000.

ERock Trading Down 7.8%

EROC stock opened at $12.67 on Thursday. The firm has a fifty day moving average price of $12.48. ERock, Inc. has a 12-month low of $8.88 and a 12-month high of $20.70.

ERock (NYSE:EROC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.25. The business had revenue of $39.88 million for the quarter, compared to analyst estimates of $26.45 million. Equities analysts anticipate that ERock, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wolfe Research started coverage on ERock in a report on Monday, July 6th. They set an "outperform" rating and a $24.00 target price on the stock. Barclays initiated coverage on ERock in a research note on Monday, July 6th. They issued an "overweight" rating and a $23.00 price target for the company. Weiss Ratings initiated coverage on ERock in a research report on Friday, September 4th. They set a "sell (e-)" rating for the company. Evercore assumed coverage on ERock in a research note on Monday, July 6th. They issued an "outperform" rating and a $28.00 price objective on the stock. Finally, Morgan Stanley upped their target price on ERock from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.50.

About ERock

ERock Inc provide onsite power solutions. ERock Inc is based in HOUSTON.

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